We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Toys R Us | NYSE:TOY | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
By John Kell
Vornado Realty Trust (VNO) disclosed income from its share of Toys "R" Us Inc.'s fourth-quarter results would be erased by a corresponding impairment loss.
The real-estate investment trust, which bought a stake in the toy retailer in 2005, said it earned $78.5 million in equity from Toys 'R' Us' fourth quarter ended Feb. 2. But an impairment loss of the same amount negated the income derived from Vornado's 32.5% stake in Toys "R" Us.
Still, Vornado's income tied to Toys "R" Us after the impairment loss for the first quarter will total $1.76 million, or a penny a share, representing earned management fees that aren't subject to impairment.
The company's share of the retailer's funds from operations is 8 cents a share, down sharply from 65 cents a share in the prior-year period.
Toys "R" Us was purchased in 2005 by Vornado and private-equity firms Bain Capital LLC and KKR & Co. (KKR) for $6.6 billion. The retailer dropped plans for an initial public offering earlier this year after almost three years of withering sales and heightened competition from online players.
Vornado's shares were flat in after-hours trading.
Write to John Kell at john.kell@dowjones.com
Order free Annual Report for Vornado Realty Trust
Visit http://djnweurope.ar.wilink.com/?ticker=US9290421091 or call +44 (0)208 391 6028
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Toys R Us Chart |
1 Month Toys R Us Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions